The European green bond market is preparing to finance nuclear power projects for the first time, according to Bloomberg. French energy giant Electricite de France has revised its green financing framework to include nuclear power, following the European Parliament’s decision to grant certain nuclear projects the “sustainability” seal. And other companies are reaching out to […]
Tag: EDF
France: Nationalizes EDF again with 9.7 billion euros
The French government has offered to pay about 9.7 billion euros for the full nationalization of Electricite de France as it tries to resolve problems at the power company that are exacerbating Europe’s energy crisis. The French government will offer 12 euros per share to acquire the 16% of EDF it does not already own, […]
French government: Nationalization of EDF will not increase electricity bills of French households
The planned nationalization of French electricity company EDF will not lead to an increase in the electricity bills of French households, government spokesman Olivier Veran said today, according to Reuters. “The nationalization of EDF will have no impact on the cost of electricity for the French,” Verand told LCI television. EDF and the French government […]
The French electricity company EDF is fully nationalized
The French government will fully nationalize the country’s electricity company EDF, Prime Minister Elizabeth Bourne has announced. “I confirm to you today that the state intends to control 100% of EDF’s capital,” Bourne told the lower house of parliament. EDF, already 84% owned by the French state, is facing delays and budget overruns at its […]
EDF expects nuclear output cuts, further straining Europe’s energy supply
Electricite de France SA (EDF) may be forced to cut output at some of its French nuclear reactors during the summer as drought reduces the amount of river water available for cooling, according to Bloomberg. Power cuts, which have already occurred a few times at one station in June, will add further pressure to Europe’s […]
Bruno Lemmer: ‘All options are on the table’ for EDF over-indebted energy giant
Finance Minister Bruno Lemerre told BFM today that the French government, a major shareholder in EDF, would always support the heavily indebted energy giant, stressing that “all options are on the table” when asked if the government was planning to nationalize EDF. . Earlier in the day, Energy Minister Anies Panier-Rinase told Europe 1 radio […]
EDF: Shares fall after the announcement of a high holiday impact on 2022 revenue
EDF shares fell 1.8% today after the French utility warned that shutdowns at its nuclear power plants would lead to a sharper-than-expected reduction in electricity generation and would therefore have a greater impact than previously estimated at key earnings for 2022, according to Reuters. Until 10 in the morning (Greek time) the share of EDF […]
Bloomberg: The debate over the nationalization of the EDF in France is back in the spotlight
The French government is considering reviving an ambitious plan to nationalize the indebted Electricite de France (EDF) and reorganize its activities with a focus on nuclear production, say insiders, quoted by Bloomberg. The energy market chaos exacerbated by the Russian invasion of Ukraine is giving new impetus to France’s long-running effort to restructure its largest […]
Le Mer: € 2.1 billion in state aid to EDF
France said on Friday it would contribute about 2.1 billion euros to the EDF, trying to mitigate the effects of shutting down nuclear reactors and supplying energy at below-market prices, according to Reuters. Finance Minister Bruno Le Merre said the state capital injection would be made through a pre-emptive rights issue, announced by EDF on […]
EDF shuts down three nuclear reactors to check for corrosion problems
The French electricity company Electricité de France will shut down three additional nuclear reactors to verify the presence of possible corrosion problems, a development that is bad news in a tense situation of electricity supply this winter. As French President Emmanuel Macron prepares to make announcements about the much-anticipated nuclear power industry, the Chinon 3, […]